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FOX News
Nov 3, 2013 12:30pm PST
sinces 1950s. and we don't have the money to do this. states can barely balance their budgets. many are going bankrupt. 30 of the 50 largest local governments have more of a pension burden than they do in revenues. so they don't have the money to do it. the federal government certainly doesn't. >> right. >> the chinese do. >> well, a lot of people are very concerned about the chinese increasing their ownership of our debt. i had our brain room look it up. i was surprised to actually learn that the chinese own a mere % of our debt. which means that, you know, roughly 92% is owned, mostly by the united states and the government itself, investors, and other countries, but china is not as big as i thought. >> yeah but it's interesting. because it has grown 10% since 2012. and that's as the fed has been on this huge bond buying binge. so it is growing. and pretty exponentially. so, you know, that has a lot of people worried. >> how is it that our infrastructure got so rundown, without maintenance? without the kind of investments over the years that traditionally we have done for decades
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